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NBU Endorses Gerhard Boesch for Chairman of PrivatBank’s Board

NBU Endorses Gerhard Boesch for Chairman of PrivatBank’s Board

On 8 June 2021, the NBU Board approved Gerhard Boesch as Chairman of the Board of state-owned PrivatBank after reviewing his application and interviewing him.

“I congratulate Gerhard Boesch on taking over as PrivatBank’s Chairman of the Board. I am confident that his professionalism will contribute to the bank’s further development. The NBU prioritizes quality corporate governance in state-owned banks as guarantee of their efficient operation,” said NBU Governor Kyrylo Shevchenko.

In May 2021, PrivatBank’s Supervisory Board appointed Gerhard Boesch Chairman of PrivatBank’s Board based on a competitive selection. Mr Boesch was appointed for a term of five years.

From November 2010 to 30 April 2021, Gerhard Boesch served as First Deputy Chairman of the Board of Raiffeisen Bank Aval.

Background

A chairman/chairwoman of the board of a state-owned bank is appointed by the bank’s supervisory board as a result of a competitive selection. The person so appointed must receive the NBU’s approval before taking office.

 

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